National continue to look at alternative

English not impressed by backroom deal "between the minority Government and a media-attention starved Winston Peters".

Thursday, June 14th 2001, 12:18PM

"I am surprised at how quickly and
easily Winston Peters has abandoned his commitment to individual
accounts being an essential aspect of any Government superannuation
fund," National's Finance spokesman Bill English said today.

"For years now Winston has preached
the essential requirement that the money in any super fund should
be in a person's name so that they know it is theirs. Yet after
round one of his discussions with Dr Cullen, Winston Peters has
thrown in the towel.

"Forget any grand rhetoric from Mr
Peters. He knows there is now no realistic expectation that the
money in Dr Cullen's super fund will be divided into individual
funds. Winston Peters has given away his strongly held ethical
stance in order to be good mates with Labour.

"The issue of the super fund will affect
New Zealanders for decades to come. As such it is far too important
to be decided by a backroom deal between the minority Government
and a media-attention starved Winston Peters.

"Dr Cullen arrogantly presented his
proposal to other parties as a fait accompli with no room for
input or rational discussion. That 'like it or lump it' approach
showed clearly how the scheme is driven by the politics and egos
of Labour. Mr Peters has today decided to dance
to Dr Cullen's tune.

"National continues to weigh up the
scheme alongside alternative possibilities and will reach a decision
when the facts are fully explored. That stands in sharp contrast
to New Zealand First which has today taken the politically expedient
course of bailing out a scheme which Winston Peters himself acknowledges
is flawed," Bill English said.